Waiting to see if it respects or breaks through support.
Overall its in a bearish trend but it previously had a strong impulse, so a lot of profit taking is being made with this pullback.
We can anticipate that it'll make another touch on the trend line, then continue down.
This can go either way so patience is key as soon enough it'll give new opportunity for sells.
it has passed the .38 Fib area and next is .50 which as well is another support zone, so eyes on that.
But till then anything is game.
cheers...
Overall its in a bearish trend but it previously had a strong impulse, so a lot of profit taking is being made with this pullback.
We can anticipate that it'll make another touch on the trend line, then continue down.
This can go either way so patience is key as soon enough it'll give new opportunity for sells.
it has passed the .38 Fib area and next is .50 which as well is another support zone, so eyes on that.
But till then anything is game.
cheers...
Comment:
expect some sort of pullback right now, then continuation